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ByAlex Carlucci
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This BREAKING NEWS ARTICLE Is About How The Coronavirus Outbreak Devastate Chicago Housing Market The COVID-19 Pandemic has affected Chicago more so than any other major city in the nation. Led by the far-left liberal first time Mayor Lori Lightfoot, the city has been deteriorating prior to the coronavirus outbreak in February 2020. However, with…
ByAlex Carlucci
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This BREAKING NEWS ARTICLE Is About Illinois Mass Exodus Due To Jobs, Housing, Tax Policy Economic recovery from the coronavirus pandemic is not going too well for Illinoisans. While other states are booming with faster than expected economic recovery from the coronavirus outbreak that hit the nation in February 2020, that is not the case…
ByGustan Cho
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This Article Is About Using Second Home As A Rental And Vacation Home Using Second Home As A Rental and Vacation Home at the same time is becoming more popular among real estate investors. Using Second Home As A Rental, the investor gets to enjoy the benefits of having a vacation home and get rental…
ByAlex Carlucci
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In this blog, we will cover and discuss the Illinois Financial Crisis to worsen due to poor leadership and incompetence by JB Pritzker and state lawmakers. Illinois’ Financial Crisis is expected to worsen when the state will be in a worst financial situation than ever before. Illinois ranks as the highest taxed state in the…
ByAlex Carlucci
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BREAKING NEWS: Illinois Leads Nation With Highest Unemployment Numbers More bad news with the Illinois economy. Illinois Leads Nation With Highest Unemployment Numbers again. This was no surprise to both economists as well as Illinoisans. Poor incompetent leadership by Governor JB Pritzker and politicians were to blame. Illinois is one of the first states in…
ByAlex Carlucci
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This Article Is On Discouraged Mortgage Loan Borrowers Due To Lender Overlays There are many mortgage loan programs available today for home buyers. FHA Loans, Conventional Loans, USDA Loans, VA Loans, and Jumbo Mortgages. The whole mortgage industry went through a major overhaul after the 2008 Real Estate and Mortgage Meltdown. Many borrowers are not…
ByGustan Cho
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BREAKING NEWS: FHFA Increases 2021 Conforming Loan Limit To $548,250 And High-Balance Ceiling To $822,375 As expected, the FHFA Increases 2021 Conforming Loan Limit To $548,250 from $510,400. Fannie Mae and Freddie Mac are the two mortgage giants in the United States The role of Fannie Mae and Freddie Mac is to provide liquidity in…
ByGustan Cho
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This Article Is About What Do Underwriters Look On Credit Report Besides Credit Scores Credit scores is the biggest factor in determining mortgage rates. Credit scores also determines whether or not borrowers qualify for certain mortgage loan programs. However, just meeting the minimum credit score requirement is not a ticket to mortgage approval. Below Are…
ByAlex Carlucci
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BREAKING NEWS: How Presidential Election Uncertainty Affects The Housing Market How Presidential Election Uncertainty Affects The Housing Market: As of today, Americans do not know who the next President of the United States will be The Trump Administration is alleging not just voter fraud but election fraud in the 2020 Elections Lead Trump Attorneys Rudy…
ByGustan Cho
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This Article Is About The Steps In The Underwriting Process Steps In The Underwriting Process By Mortgage Lenders: Most mortgage lenders have similar steps in the underwriting process. However, each lender may have its own steps on how they process a loan from the time the homebuyers turns in the executed purchase contract to closing…
ByMike Gracz
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This Article Is About Tax Cut And Jobs Act And How It Affects Mortgage Guidelines Well, we all survived the first tax season with the new Tax Cut and Jobs Act. There are quite a few changes with the current tax law. The current Administration is attempting to fix loopholes with the tax system This…
ByGustan Cho
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This Article Is About Exempt Debts From Debt To Income Ratio To Qualify For Mortgage There are certain Exempt Debts From Debt To Income Ratio. Borrowers with high debt to income ratios with debts that are co-signed and/or debts someone else is paying can get those debts exempt from DTI calculations The borrower needs to…
ByAlex Carlucci
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This Article Is About Chris LaRocco Endeavor America Wholesale Lender I like to introduce my fellow mortgage brokers to Chris LaRocco, National Account Manager for Endeavor America. Chris LaRocco is a veteran wholesale account manager and is currently the National Account Wholesale Mortgage Manager for Endeavor America Whenever I have a file that is extremely…
ByAlex Carlucci
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This Article Is About Cook County Property Taxes Soaring To 20-Year Record High Cook County Property Taxes Soaring at historic record pace since 2000. Cook County is the largest county in Illinois It is also the most populous out of any county in Illinois Cook County covers the city of Chicago Lake and Cook County…
ByGustan Cho
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This Article Is About Us at Gustan Cho Associates: We Are A National Mortgage Company Licensed In Multiple States With No Lender Overlays On Government And Conventional Loans: Gustan Cho Associates is a national five-star mortgage company licensed in multiple states with no lender overlays on government and conventional loans. The team at Gustan Cho…
ByAlex Carlucci
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BREAKING NEWS: Illinois Fair Tax Ads Promise False Property Tax Relief Illinois Fair Tax Ads Promise False Property Tax Relief. J.B. Pritzker, the first term rookie freshman heavy-set obese governor of Illinois, did not waste any time increasing taxes the minute he took office. J.B. Pritzker doubled the state gas tax which drew huge criticisms…
ByGustan Cho
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This Article Is About Waiting Period After CARES ACT Forbearance To Qualify For Mortgage The CARES ACT is a financial economic relief act created by Congress and signed into law by President Donald Trump to Americans affected by the coronavirus outbreak The U.S. economy was booming prior to the coronavirus outbreak in February 2020 The…
ByAlex Carlucci
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This Article Is About How Do Principal Payments Work On Home Mortgages One of the most frequently asked questions by first-time homebuyers often ask How Do Principal Payments Work On Home Mortgages. The two basic components that make up a monthly mortgage payment are principal and interest Every month, when homeowners make their scheduled monthly…
ByAlex Carlucci
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BREAKING NEWS: The impact of the coronavirus outbreak on Non-QM lender. The impact of the coronavirus outbreak on Non-QM lenders hit the mortgage and housing industry hard: All non-QM mortgage companies have halted funding mortgages. Many have already gone out of business. Non-QM loans are alternative mortgages that have been becoming very popular. Many non-QM…
ByGustan Cho
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This Article Is About How Student Loans Affect Qualifying For Mortgage Two types of debts are the biggest hurdles most home buyers will encounter when qualifying for a mortgage loan. They are student loan debts and automobile monthly payments Student loan debts can be tens of thousands of dollars A car payment can be a minimum…
ByMike Gracz
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This Article Is About Advice In Moving Out Of Your Parents House And Buying First Home Tips and Advice In Moving Out Of Your Parents House and buying a first home: Let’s face it, living with your parents has its ups and downs I remember when I lived with my mother after college It was…
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